China Borrows $1.63 Billion
For Infrastructure Projects

A flurry of loan approvals for infrastructure projects confirms China's place as the biggest borrower from the World Bank.

The loans, which are valued at $1.63 billion, were rushed to completion so they could count as part of the bank's operations in the fiscal year ended June 30. Those approvals bring the bank's lending to China for that fiscal year very close to a target of $3 billion, the highest for any bank borrower. China's current loan levels are estimated to be about 7% of the World Bank's total lending, not...